Every successful business needs a strong personality at its helm. As one of the wealthiest countries in Africa, Nigeria has plenty of thriving businesses with even more accomplished CEOs. Here are the top 10 highest-earning CEOs in Nigeria.
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10. Imrane Barry, Total Nigeria PLC
Imrane Barry has worked for different subsidiaries of Total in the African region for almost a decade before being appointed the head of Total Nigeria. In 2019, he took home ₦163 million, which is over 40% more than what he had made on the same position the year before.
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9. Emeka Emuwa, Union Bank of Nigeria
Emeka Emuwa has earned ₦172 million in 2019 and in 2019 he has earned the same amount as the CEO of the Union Bank of Nigeria. Emuwa has diligently served in this position since 2012, but even before then, he wasn’t a newcomer in the financial industry. Prior to being the CEO of the Union Bank, he has had a career in banking that spanned over 25 years.
8. Lars Richter, Julius Berger Nigeria PLC
Lars Richter has joined Julius Berger Nigeria in 2018 as Managing Director. Prior to that, he has spent 16 years in total working in the construction industry and 10 years in the leading Nigerian construction enterprises. In 2019, Lars Richter made ₦217 million, which is significantly less than his salary in 2018, which was ₦319 million.
7. Mauricio Alarcon, Nestle Nigeria PLC
Nestle is one of the world’s best-known food companies with a huge presence in Nigeria, which is why it shouldn’t be surprising that the CEO of Nestle Nigeria, Mauricio Alarcon, is one of the top-earning CEOs in the country with a 2019 income of ₦218 million. He has spent the last 17 years with Nestle in various locations.
6. Jordi Borrut Bel, Nigerian Breweries PLC
Nigerian Breweries is the company behind some of the nation’s favourite beers and soft drinks. To help maintain its status and revenue, Jordi Borrut Bel joined the company a few years ago as a CEO. In 2019, he made ₦271 million from his position and experienced a significant pay increase since ₦190 million in 2018.
5. Michael Puchercos, Lafarge Africa PLC
Michael Puchercos has had over two decades of experience in the cement industry before joining Lafarge Africa as a CEO. In 2019, Puchercos brought home ₦272 million with an over 18% increase from 2018’s ₦229 million. In early 2020, he left Lafarge Africa to work for its closest competitor, Dangote Cement, so we will probably see him on a similar list in 2021.
Read more: How Did Aliko Dangote Make His Money?
4. Yaw Nsarkoh, Unilever Nigeria
Yaw Nsarkoh has spent a huge chunk of his career with Unilever Group, serving at various managerial positions for Unilever across the African continent. His employment as a Managing Director for Unilever Nigeria brought him ₦330 million in 2019, but at the end of the year, he resigned to explore new opportunities within the company.
3. Segun Agbaje, GTBank
Unsurprisingly, one of the most lucrative sectors for CEOs. Segun Agbaje joined GTBank back in 1991 and has confidently climbed up the career ladder until landing the position of a CEO in 2011. His loyalty and managerial skills have earned him ₦400 million in 2019.
2. Augustine Avuru, Seplat
Augustine Avuru has spent 10 years as the CEO of Seplat, but his career spans much further than that. In addition to having founded his own petroleum company, he also worked at the Nigerian National Petroleum Commission. At Seplat, Avuru made ₦440 million and he is due to retire from his position on July 31, 2020.
Read more: Top 5 Richest Nigerians Who Are Not University Graduates
1. Ferdinand Moolman, MTN Nigeria
It has been almost five years since Ferdinand Moolman accepted the proposition to become the CEO of MTN Nigeria, before working for the company in various capacities for many years. Since then, the company and Moolman have achieved a lot, culminating in a ₦586 million salary he received in 2019.
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